Experienced Cash Mgmt Products Executive(Core Cash&Channels), Client Integration experience btwn banking & ERP systems
Thanks to EPAA and AWS for organising a topic of importance to all in the ASEAN region. I was happy to contribute to this discussion where different views from BIS, payment operators, Banks and Host of fintechs were discussed and next actions were agreed. It is always challenging when we talk about cross border payments over domestic RTP rails. What transpired was that it is relatively easier to get the tech stack implemented and a bigger challenge is to overcome host of other issues like governance, common policies across market, funding payments 24*7 when RTGS works over fixed time, fx documentation, etc… I am sure with so many stakeholders focusing on this topic, at an industry level we will find an optimal solution. Winnie Yap Manoj Dugar Yvonne Yiu Harish Kumar Nicholas Soo Rohit Rozario Shayan Hazir Tancy Tan Mun Liong Lee Shadab Taiyabi Ma-an David Saikat Mandal Lewis Lei Sun Sathya Ram Priya Kini Gilbert Ng, CFA Harish Venkatesan Natarajan Sriram Shane Fernando Nishka Thadani Debby Neo Austine Chu
🌏 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐢𝐬𝐢𝐧𝐠 𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐀𝐏𝐀𝐂: 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐋𝐞𝐚𝐝𝐞𝐫𝐬 🚀 The Emerging Payments Association Asia (EPAA), in collaboration with Amazon Web Services (AWS), hosted its second in a 4-part series of curated roundtables in Singapore, bringing together APAC’s leading payments industry experts to explore “𝐇𝐨𝐰 𝐭𝐨 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐨𝐟 𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬”. This pivotal discussion centred on the challenges SMEs face in accessing cost-effective and efficient payment options, as well as the need to address efficient and secure cross-border payments for both consumers and SMEs. 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: ✅ APAC region is projected to exceed 350 billion real-time transactions by 2028, fuelled by strong adoption in key markets such as India, China, and Thailand, alongside emerging growth in Indonesia and Malaysia. ✅ Central banks are spearheading this initiative to establish a unified cross-border payment system linking Singapore, Thailand, India, and Europe, focusing on security, real-time screening, and public-private partnerships. ✅ The inefficiencies in the current cross-border payments and remittance systems demand the need for improved access to payment rails and regulatory harmonisation for transparency and security for all businesses. ✅ Advancements such as programmable compliance and zero-knowledge proofs to enhance AML processes, reduce costs, and improve scalability. 𝐄𝐱𝐩𝐥𝐨𝐫𝐞𝐝 𝐓𝐡𝐞𝐦𝐞𝐬: 𝐁𝐚𝐫𝐫𝐢𝐞𝐫𝐬 𝐚𝐧𝐝 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬: Addressing regulatory and technological hurdles while exploring innovations to lower costs and improve accessibility for SMEs. 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝐁𝐚𝐧𝐤𝐬 𝐚𝐧𝐝 𝐅𝐢𝐧𝐓𝐞𝐜𝐡𝐬: Showcasing successful partnerships to better serve underserved segments. 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐢𝐬𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐇𝐚𝐫𝐦𝐨𝐧𝐢𝐬𝐚𝐭𝐢𝐨𝐧: Advocating for unified protocols to reduce fragmentation and foster ecosystem collaboration. Thank you to Nigel Lee for moderating this engaging session and to all participants for their invaluable insights. 🙏 Together, we're building a future where instant payments drive business growth across APAC and beyond. 🌟 Ashley Thomas Benjamin, Ming-An Lee Shrawan (SK) Saraogi Azleena Idris Deven Somaya Arif Khan Sridhar Monubol Rebekah Wong Melvyn Low Venga Venkatachalam Tessa W. Pratyush Prasanna Rahul Bhargava Lars Sjögren Kiran Jagannath Nicholas Soo Sujatha Mohan Ritesh Sukla Kedarnath Rentala Vivek Gupta Vikram Rao Naveen Gupta Sameer Gupta Niraja Gokhale Richard Barclay Camilla Bullock Sally Sternecker Linda Stanojevic Monica Jasuja #epaa #payments #epaainsights #InstantPayments #FinTech #APAC #Innovation #DigitalTransformation